logo
China's fiscal revenue falls 0.3% in January-May period

China's fiscal revenue falls 0.3% in January-May period

Reuters13 hours ago

BEIJING, June 20 (Reuters) - China's fiscal revenue shrank 0.3% in the first five months of 2025 from a year earlier, narrowing a 0.4% decline in the January-April period, finance ministry data showed on Friday.
Fiscal expenditure was up 4.2% in the first five months, versus a 4.6% gain in the first four months.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Teck Resources eyes output boost for chipmaking-metal germanium
Teck Resources eyes output boost for chipmaking-metal germanium

Reuters

timean hour ago

  • Reuters

Teck Resources eyes output boost for chipmaking-metal germanium

LONDON, June 20 (Reuters) - Canada's Teck Resources ( opens new tab is weighing options to expand production of germanium, a strategic metal key to chipmaking, and is currently talking with governments, including Canada and the United States, on available funding, said Doug Brown, VP communications & government affairs. Teck's plan comes amid growing efforts to diversify supplies of critical minerals needed for the tech and defence sectors, as geopolitical tensions and trade barriers complicate access to materials mainly produced or refined in China. "We are examining options and market support for increasing production capacity of germanium," he told Reuters. China, which supplies around 60% of the world's refined germanium, restricted exports of the metal - along with gallium and antimony, all having broad military applications - to the United States, further escalating trade tensions between the world's two largest economies following Washington's crackdown on Beijing's chip sector. The export curbs were part of a broader effort launched in 2023, when China began imposing restrictions on critical mineral shipments, citing national security concerns. By controlling the export of these minerals, China aims to exert influence over the industries that use them, including renewable energy, defence, and chip manufacturing. Germanium is also used in semiconductors and infrared technology, fibre optic cables and solar cells. Teck is exploring ways to add to the current processing line using existing technology as one of the options, Brown said. Teck is North America's biggest germanium producer, and the fourth largest globally. Most of its germanium, a by-product of zinc ore concentrate at its Red Dog operations in Alaska, goes to the United States, via smelting and refining in British Columbia. Canada's germanium exports to the United States are currently exempt from tariffs as they comply with the USMCA (United States, Mexico, Canada) trade agreement. In a speech in Washington last January, Canada's Energy and Natural Resources Minister Jonathan Wilkinson welcomed partnerships with the United States to invest in critical minerals, including germanium. Canada's Energy Ministry declined to comment on funding for Teck, while saying that the prime minister is leading broader trade negotiations with the United States.

Chinese EV maker Hozon enters bankruptcy proceedings, state media reports
Chinese EV maker Hozon enters bankruptcy proceedings, state media reports

Reuters

time3 hours ago

  • Reuters

Chinese EV maker Hozon enters bankruptcy proceedings, state media reports

BEIJING, June 20 (Reuters) - Zhejiang Hozon New Energy Automobile, the owner of Chinese electric vehicle brand Neta, officially entered bankruptcy proceedings on Thursday, China's state broadcaster CCTV reported on Friday. Multiple Neta stores in Shanghai have been closed, the report said. According to China's national corporate bankruptcy disclosure platform, a creditor last month filed a bankruptcy petition against the firm.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store